DIC Subsidiary Jane Motors Signs Exclusive Distribution Agreement for Electric Carrier 'Terian'

[Asia Economy Reporter Lim Jeong-su] DIC, the No. 1 domestic company in electric vehicle reducers, announced on the 24th that it has signed the first general agency contract for the multipurpose electric carrier 'Terian,' produced through its subsidiary Jane Motors.

The contract counterpart is 'Namgyeong Co., Ltd.,' with a condition to maintain a minimum annual contract of 100 units. Accordingly, electric carrier sales are expected to be made for golf courses, tourist sites, government offices, parks, resorts, and agricultural use in the future.

DIC stated, "With this general agency contract, we will primarily supply Terian to golf courses nationwide in Korea," adding, "Starting with this, we expect to transform the existing internal combustion engine-centered carrier vehicle market operating in the region into an eco-friendly (electric) vehicle market."

Jane Motors is an eco-friendly electric carrier vehicle manufacturer affiliated with DIC. Its asset size is 18.7 billion KRW, accounting for 3.10% of DIC's consolidated assets. Sales are expected to increase due to steady market creation and product line expansion recently.

Meanwhile, DIC exclusively supplies electric vehicle reducers to Hyundai Motor Group. It also supplies reducers to General Motors (GM) in the United States and leading electric vehicle company Tesla. Recently, as orders for electric vehicle reducers have increased, performance has significantly improved.